The surcharge, in numbers

Rates, counts, dates. Five published figures for this program, and no two of them count the same thing.

One naming note before the figures: the charge these numbers describe is the non-primary residence property surcharge of the notices, the pied-a-terre tax of the press, and the PAT tax of law-firm client alerts. Every figure below is the same under all three names.

Phase One rates

Phase One covers fiscal years 2026-27 and 2027-28. The rate runs against the entire market value once the threshold is crossed.

Phase One rates. Values are Department of Finance market value, not sale price.
Property typeDOF market valueRate
Condominium or co-op unit$1M to $3M4.00%
Condominium or co-op unit$3M to $5M5.25%
Condominium or co-op unitOver $5M6.50%
1-3 family home$5M to $15M0.80%
1-3 family home$15M to $25M1.05%
1-3 family homeOver $25M1.30%

How many properties, and by whose count?

Five published figures, five different denominators.
SourceFigureWhat does it measure?
City Hall, April 2026About $500 million a yearRevenue projected at announcement.
NYC Comptroller, April 30, 2026$340 million to $381 million a yearRevenue range. 19,107 properties analyzed, 11,226 after a market-value adjustment.
Press analysis of the published roll, July 2026Roughly 24,300 properties, about 17,500 condo or co-op unitsCounted from the supplemental market value roll published July 24, 2026.
NYC Department of Finance, program page, read August 2, 2026Roughly 17,000 lettersOwners DOF actually mailed a notice to. DOF has since taken the number off that page, leaving the qualitative point that the vast majority of listed properties will not receive a notice.
MGNY analysis of FY2027 assessment rolls8,900+ condominium units at the threshold, more than half entity-ownedCondominium units only. Entity-owned means LLCs, trusts, and similar.

The dates

DateWhat is it?
July 22, 2026Notices dated and mailed.
August 1, 2026DOF extends the response deadline to September 18, 2026 for everyone who received a notice, replacing the printed August 21 and August 24 dates. Since extended a second time, to October 6, 2026.
August 3, 2026The emergency rule carrying the extension takes effect, amending 19 RCNY 62-06(b)(1). Emergency term 60 days with one renewal, so permanent rulemaking is expected.
August 30, 2026DOF statutory outside date to transmit year-one determinations. Not an owner deadline.
October 6, 2026Extended response deadline, all property types, after DOF extended it a second time.
November 2026Bills issued.
December 31, 2026Final assessment roll addendum due.
January 1, 2027First payment due.
March 1 and 15, 2027Tax Commission Form TC107 deadlines, Class 2 and Class 1.
July 1, 2028Phase Two valuation change.
June 30, 2031Sunset.

The dated record of how each of these dates landed is kept at Pied-à-Terre Tax Watch.

What would the surcharge cost?

Pick the property type, enter the Department of Finance market value from your notice, and the annual figure appears.

The estimate updates as you type. The surcharge starts at $1 million for this property type.

Look up the value the city actually used

Estimate only, using the Phase One ladders for fiscal years 2026-27 and 2027-28; the figures on your own notice govern. The free lookup opens on pied-a-terre.mgnyconsulting.com in a new tab. Not legal or tax advice.

On this site

Methodology: what each number countsFive published figures for the NYC surcharge, what each one measures, why they do not reconcile, and why a $1 million threshold is not a $1 million apartment.Valuation: how the number on the notice is setThe income method, the cooperative share imputation under Admin. Code 11-3205(f), the cliff at the threshold, and what changes on July 1, 2028.

Sources

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